Recent developments in spin electronics have enabled the emergence of a new class of non-volatile memories, magnetic random access memories (MRAM). In general, MRAM exploits the electromagnetic properties of magnetoresistive materials to set and maintain information stored within individual magnetic memory cells, also called magnetic tunnel junctions (MTJ). More specifically, digital information is stored within a magnetic memory cell as a bit, the state of which is indicated by the direction of magnetization within one magnetic layer of the memory cell relative to another magnetic layer of the memory cell. A typical magnetic memory cell may comprise two magnetic layers sandwiching a tunnel barrier layer. One magnetic layer has a fixed magnetic orientation, which may be referred to as the pinned magnetic layer or the reference layer. The reference layer serves as a reference for another magnetic layer within the cell. The other magnetic layer, also referred to as a free magnetic layer or storage layer, can be adapted to change its magnetic orientation relative to the reference layer such that logic states of a bit may be stored within the magnetic tunnel junction.